Commencement of the supply of natural gas from the Leviathan reservoir

December 31, 2019 at 10:00 AM CET

Tel Aviv, December 31, 2019. Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) refers to the regulatory filing of its subsidiary Delek Drilling (60% owned) regarding the commencement of the supply of natural gas from the Leviathan reservoir:

Further to Section 7.4.5 of the Partnership’s periodic report as of December 31, 2018, which was released on March 24, 2019 (Ref. no.: 2019-01-023982), regarding the plan for the development of the Leviathan reservoir, and in accordance with information provided to the Partnership by the operator in the Leviathan project, Noble Energy Mediterranean Ltd., the Partnership is pleased to announce that today, December 31, 2019, piping of natural gas from the Leviathan reservoir was commenced, for the supply thereof to customers with which the Leviathan partners have engaged, in accordance with agreements for the supply of natural gas from the reservoir that were signed therewith. The capacity of natural gas flow from the Leviathan reservoir is expected to ramp up gradually and accordingly, in the coming days, natural gas supply from the reservoir to Egypt will also commence.

Caution regarding forward-looking information:

The above estimate regarding the date of commencement of supply of gas from the Leviathan project to Egypt, constitutes forward-looking information, within the meaning thereof in the Securities Law, 5728-1968, the materialization of which, in whole or in part, is uncertain, and which may materialize in a materially different manner, due to various factors beyond the Partnership’s control.

The partners in the Leviathan project and their holding proportions are as follows:

The Partnership 45.34%
Noble Energy Mediterranean Ltd. 39.66%
Ratio Oil Exploration (1992), Limited Partnership 15.00%

Sincerely,

Delek Drilling Management (1993) Ltd.

General Partner of Delek Drilling - Limited Partnership

 

By Yossi Abu, CEO

Yossi Gvura, Deputy CEO

This is a convenience translation of the original HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on December 31, 2019.

About The Delek Group


The Delek Group, Israel's dominant integrated energy company, is the pioneering leader of the natural gas exploration and production activities that are transforming the Eastern Mediterranean's Levant Basin into one of the energy industry's most promising emerging regions. Having discovered Tamar and Leviathan, two of the world's largest natural gas finds since 2000, Delek and its partners are now developing a balanced, world-class portfolio of exploration, development and production assets. Ithaca Energy, Delek Group’s North Sea operator, concluded the acquisition of Chevron’s North Sea assets for USD 1.67 billion in November 2019. The assets include 10 fields producing 60 kboe per day, with 131 mboe of 2P reserves and 45 mboe of 2C reserves. Delek Group shares are traded on the Tel Aviv Stock Exchange (TASE:DLEKG) and are part of the TA 35 Index.

For more information on Delek Group please visit www.delek-group.com

Contact


Investors

 

Yonah Weisz

Head of Investor Relations

Delek Group Ltd.

Tel: +972 9 863 8443

investor@delek-group.com